The revelation in the early 1990s that the Federal Open Market Committee (FOMC) had privately maintained policy meeting transcripts for years created a substantial political challenge for the Federal Reserve. But it also opened the door to a new era of policy transparency that would have been unimaginable through much of the Fed’s history.
By Tim Todd

Explore the history behind the Federal Reserve's current roles as overseer and participant in the payments system and the often contentious debate over the central bank's responsibilities.
By Bill Medley

The Bank's Economic Policy Symposium has provided a unique forum for the exchange of ideas on important policy issues of interest to central banks around the world. This book tells the history of the symposium through the years.
By Tim Todd and Bill Medley

During the U.S. recession of 1990-91, the Federal Reserve came under intense pressure from political forces seeking to influence monetary policy. This book examines the role of politics on the Federal Open Market Committee at that time and highlights the importance of the Fed's independence and decentralized structure.
By Tim Todd

Other Media

The Emmy-nominated documentary "10-J: The History of the Federal Reserve Bank of Kansas City" explores the history of the nation's central bank, the reasons Congress created its decentralized structure and the important role of the 12 regional Reserve Banks. This hour-long documentary was produced by Kansas City’s PBS affiliate, KCPT.